ICE Canadian canola futures fell on Friday for the third straight session, pressured by early weakness in grain markets and technical selling, but canola ended with a weekly gain. Canola trading below most key moving averages. Total volume was thin at 15,240 contracts. Farmers seen on sidelines after selling more aggressively earlier in the week.
January canola futures lost $3.10 at $518.70 on volume of 7,951 contracts. Notched 0.6 percent weekly gain. March slipped $3.10 at $524.70 on volume of 2,819. MATIF February rapeseed eased 0.9 percent. January-March spread traded 2,363 times, settling at a March premium of $6.00. Chicago January soyabeans ended unchanged at US $11.68-1/4 per bushel. December soyaoil gave up 0.52 cent to 50.88 US cents per lb.
The Canadian dollar was trading at $1.0248 or 97.58 US cents at 1:14 pm CST (1414 GMT), up from Thursday's close at $1.0283 versus the greenback, or 97.25 US cents. US crude oil fell 1.3 percent to US $97.67 per barrel. Canada weekly canola crushings rise 4.1 pct.
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